Palace says PRA to decide on whether to lift or not minimum age for special resident retiree’s visa

October 22, 2020

The Philippine Retirement Authority (PRA) will determine if there is a need to lift the minimum age of foreign retirees in the country after some senators expressed alarm over the arrival of many Chinese tourists using this scheme, Malacanang said on Thursday.

In a televised press briefing, Presidential Spokesperson Harry Roque said it would be up to PRA to decide on the matter.

"The Board of Directors of PRA, which has its own charter will meet and consider whether or not to lift the minimum age for the special retirees visa and we will defer to the specialized decision of the Board of the Philippine Retirement Authority," he said.

He noted that those who are granted with special resident retiree's visa (SRRV) should bring capital into the country.

"In exchange of that, they need to bring in foreign exchange and capital in order to have a business that will employ more Filipinos," Roque said.

Some senators have expressed alarm over the arrival of almost 28,000 Chinese retirees, some of them as young as 35 years old.

According to PRA, foreign retirees who are 35 years old and above with at least $50,000 cash on hand are allowed to enter the country.

Senator Richard Gordon specifically warned that using the SRRV is dangerous and disturbing since the foreigners could easily go in and out of the Philippines.

He raised national security concern over the huge number of Chinese retirees in the country. Celerina Monte/DMS